MIE Holdings Corporation provided earnings guidance for the six months ended June 30, 2016; for the period, the board of directors of the company announced that, the group is expected to record a more significant net loss as compared to the corresponding period in 2015. The above change is primarily due to (a) the continued decline in global crude oil prices which resulted in decreases in average oil price realized and sales revenue realized from the company China and Kazakhstan operations (b) expected impairment in company's China and Kazakhstan assets and (c) expected impairment from the reclassification of company's Kazakhstan assets to disposal group held for sale.